United States Securities and Exchange Commission

SEC Obtains Judgment Against Massachusetts Man Who Defrauded Investors in International Real Estate Investment Scheme

Litigation Release No. 25243 / October 15, 2021

Securities and Exchange Commission v. Vassilios Trikantzopoulos, et al., No. 1:20-cv-11156 (RGS) (D. Mass. filed June 18, 2020)

The Securities and Exchange Commission today announced that it obtained a final judgment against Vassilios Trikantzopoulos, of Boston, Massachusetts, and his business, Navis Ventures LLC, who were previously charged with operating a fraudulent long-running investment scheme.

In June 2020, the Commission charged Trikantzopoulos and Navis for running a multi-year scheme that solicited investors for various international real estate ventures but then used the investors' funds for unauthorized personal expenses. On June 21, 2021, the Court granted the SEC's motion for summary judgment on all of the claims in its complaint. Trikantzopoulos also conducts business under the name Basil Trikantzopoulos, and an alternate spelling of his name, Trikatzopoulos. The Court found Trikantzopoulos and Navis liable for fraudulently misrepresenting to investors Trikantzopoulos' background, the expected return on their investments, and the use of their investments.

On October 15, 2021, the Court entered a final judgment permanently enjoining Trikantzopoulos and Navis from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Court also ordered Trikantzopoulos to pay $109,139 in disgorgement of ill-gotten gains plus $17,841 in prejudgment interest thereon, and civil penalties of $195,046. Navis was ordered to pay civil penalties of $250,000.

The SEC's case was handled by Mark Albers, Richard Harper II, Nita K. Klunder, David London, and Michele T. Perillo of the Boston Regional Office.

The SEC's Office of Investor Education and Advocacy issued an Investor Alert, Don't Fall for an Investment Scam, in October 2019. We encourage investors to research the background of anyone selling or offering an investment, particularly where high returns are offered in a short period of time.